Four in 10 London Homesellers Are Cutting Prices
- Reductions reflect over-optimism as demand wanes: Rightmove
- Acadata report shows weakest national price growth since 2012
Rows of luxury residential properties in London.
Photographer: Simon Dawson/Bloomberg
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The proportion of London home sellers dropping their asking price is rising as the property market slumps further.
With more than four in 10 revising lower, the average price cut of 6.7 percent reflects “initial over-optimism and a tougher market,” Rightmove Plc said in a report published Monday.